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Derivative Instruments (Tables) | 9 Months Ended
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Sep. 30, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Derivative Instruments | The following table summarizes the approximate volumes and average contract prices of swap contracts the Company had in place as of September 30, 2017:
| Period |  | Volume (Bbl) |  | Weighted Average Fixed Price/Differential ($/Bbl) (1)
Crude oil swaps | October 2017 - December 2017 |  | 170,200 |  |  | $ | 50.41 |
| January 2018 - December 2018 |  | 36,500 |  |  | $ | 55.95 |
Crude oil basis swaps | October 2017 - November 2017 |  | 21,350 |  |  | $ | (0.20 | )
(1) | The oil swap contracts are settled based on the month’s average daily NYMEX price of West Texas Intermediate Light Sweet Crude. The oil basis swap contracts are settled based on the difference between the arithmetic average of WTI MIDLAND ARGUS and WTI ARGUS during the relevant calculation period.
| Period |  | Volume (MMBtu) |  | Weighted Average Fixed Price/Differential ($/MMBtu) (1)
Natural gas swaps | October 2017 - December 2017 |  | 368,000 |  |  | $ | 2.94 |
Natural gas basis swaps | January 2018 - December 2018 |  | 1,825,000 |  |  | $ | (0.43 | )
| January 2019 - December 2019 |  | 1,825,000 |  |  | $ | (0.43 | )
(1) | The natural gas swap contracts are settled based on the month’s average daily NYMEX price of Henry Hub Natural Gas. The natural gas basis swap contracts are settled based on the difference between Inside FERC’s West Texas WAHA price of natural gas and the NYMEX price of Natural Gas during the relevant calculation period.
Derivative Instruments, Gain (Loss) | The following table presents gains and losses for derivative instruments not designated as hedges for accounting purposes for the periods presented:
| Successor |  |  | Predecessor |  |  | Successor |  |  | Predecessor
(in thousands) | For the Three Months Ended September 30, 2017 |  |  | For the Three Months Ended September 30, 2016 |  |  | For the Nine Months Ended September 30, 2017 |  |  | For the Nine Months Ended September 30, 2016
Net gain (loss) on derivative instruments | $ | (896 | ) |  |  | $ | 1,741 |  |  |  | $ | 5,392 |  |  |  | $ | (4,184 | )
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value | The following tables summarize the location and fair value amounts of all the Company’s derivative instruments in the consolidated balance sheets, as well as the gross recognized derivative assets, liabilities and amounts offset in the condensed consolidated balance sheets:
| September 30, 2017
(in thousands) | Balance Sheet Classification |  | Gross Asset/Liability Amounts |  | Gross Amounts Offset (1) |  | Net Recognized Fair Value Assets/Liabilities
Derivative Assets |  |  |  |  |  |  |
Derivative instruments | Current assets |  | $ | 562 |  |  | $ | (179 | ) |  | $ | 383 |
Derivative instruments | Noncurrent assets |  | 246 |  |  | (4 | ) |  | 242 |
Total derivative assets |  |  | $ | 808 |  |  | $ | (183 | ) |  | $ | 625 |
Derivative Liabilities |  |  |  |  |  |  |
Derivative instruments | Current liabilities |  | $ | 629 |  |  | $ | (179 | ) |  | $ | 450 |
Derivative instruments | Noncurrent Liabilities |  | $ | 4 |  |  | $ | (4 | ) |  | $ | — |
Total derivative liabilities |  |  | $ | 633 |  |  | $ | (183 | ) |  | $ | 450 |
(1) | The Company has agreements in place with all of its counterparties that allow for the financial right of offset for derivative assets and derivative liabilities at settlement or in the event of a default under the agreements or contract termination.
| December 31, 2016
(in thousands) | Balance Sheet Classification |  | Gross Asset/Liability Amounts |  | Gross Amounts Offset (1) |  | Net Recognized Fair Value Assets/Liabilities
Derivative Assets |  |  |  |  |  |  |
Derivative instruments | Current assets |  | $ | 739 |  |  | $ | (308 | ) |  | $ | 431 |
Total derivative assets |  |  | $ | 739 |  |  | $ | (308 | ) |  | $ | 431 |
Derivative Liabilities |  |  |  |  |  |  |
Derivative instruments | Current liabilities |  | $ | 5,669 |  |  | $ | (308 | ) |  | $ | 5,361 |
Derivative instruments | Noncurrent Liabilities |  | 20 |  |  | — |  |  | 20 |
Total derivative liabilities |  |  | $ | 5,689 |  |  | $ | (308 | ) |  | $ | 5,381 |
(1) | The Company has agreements in place with all of its counterparties that allow for the financial right of offset for derivative assets and derivative liabilities at settlement or in the event of a default under the agreements or contract termination.

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- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5624171-113959 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5618551-113959 + Details
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- Definition Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5624163-113959 + Details
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- Definition Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=84234895&loc=d3e41641-113959 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5624163-113959 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=84234895&loc=d3e41678-113959 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=84234895&loc=d3e41638-113959 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1B -URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5580258-113959 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5579245-113959 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5624171-113959 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5579240-113959 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=84234895&loc=d3e41620-113959 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(n)(2)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 + Details
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